Just Price Solutions, the technology subsidiary of the nonprofit Neighborhood Housing Services of America, has made available an automated, Web-based process to create sustainable mortgage modifications, both individually and in bulk.
Supported by Just Price's BestFIT technology, the process verifies data and identifies optimal loan modification solutions for both the homeowner and the servicer, the company says. The process helps mortgage servicers develop affordable loan modifications that protect the original investment and minimize the likelihood of redefault.
The rules-based BestFIT decision engine is customizable, allowing servicers to adapt to Fannie Mae's new criteria, the Federal Deposit Insurance Corp.'s rules or any other guidelines.
"BestFIT's Web-based process also establishes a safer protocol to develop new mortgages," says Just Price's chief operating officer, John Brunson. "The automated process combines sustainable loan products with special-purpose subsidies to identify a customized approach to each borrower based on his or her specific eligibility requirements."
SOURCE: Just Price Solutions